Electrical capacitance tomography (ECT) is known as an imaging technique for dielectric permittivity imaging. A novel ECT sensor model at a high excitation frequency is proposed to examine the capability of the ECT system to image both conductivity and permittivity contrasts. The proposed model uses a complex impedance forward model for the ECT system. This new model indicates that in higher excitation frequency both conductive and dielectric imaging may be feasible. Normally, capacitance tomography is designed for the measurements of imaginary part and resistance tomography is used to take the measurements of real part. The drawback of a typical capacitance tomography at a low excitation frequency, such as 200 kHz is that it cannot be used to measure the conductive phase of a conductive/dielectric mixed fluid, e.g. the gas/water flow. By increasing the excitation frequency, the capacitive impedance of the conductive material decreases and dielectric phenomena of the conductive fluid dominates so that it is possible to use capacitance tomography to characterise the dielectric/conductive flows. This paper presents a development of capacitance tomography with a high excitation frequency in measuring the gas/liquid mixture i.e. gas/water and gas/oil multiphase distributions. Both theoretical and experimental results are presented to verify this feasibility study.